Why do we need so many cryptocurrency exchanges?

[Nolimitz84]

In addition to the exchanges listed on the CMC, there are many other exchanges.I have a question WHY do we need so many exchanges?What do You think the new exchange will be able to attract potential users?

[o_e_l_e_o]

We don't.

Every new exchange has one ultimate goal in mind - make some money for the creators. Some try to do that legitimately, but unfortunately the vast majority resort to shady and unscrupulous activities and behavior to do so, be that faking their volumes, faking their trades, insider trading, pumping and dumping, exit scamming, selling your data, the list goes on. "Launching a new exchange" and IEOs seem to have partly replaced "launching a new token" and ICOs as the fastest and easiest way for scammers to lure in unsuspecting newbies.

For your own safety, you should be sticking to the large, reputable, and well known exchanges, although even then your safety isn't guaranteed.

[XinXan]

How many brokers for classic assets are out there? Thousands, why? Well, just like everything else, why are there a ton of different websites to buy the same things? To sell the same things? etc etc. That's how it works, ultimately the ones who are serious about it will try to offers something better, whether it's regulations, better fees, faster platform, more detailed charts, more trading options, margin trading, etc etc. We do in fact need more cryptocurrency exchanges, hopefully decentralized ones as well.

[Slow death]

I have a question WHY do we need so many exchanges?

where there is competition, there is a possibility that quality will be higher and rates will be more competitive. but unfortunately in the case of exchanges the situation only becomes more pessimistic. it seems that the new exchanges follow the example of yobit

What do You think the new exchange will be able to attract potential users?

most of the new exchanges are created by people who seem to lack planning and disorganization. for example, it is known that many exchanges provide poor service to the support, why the hell anyone knowing that there are already many exchages to provide poor services to the support will create a new exchange to provide poor service to the support? the owners of these exchanges only think of making money for themselves and do not bother to provide good services

[ljane]

Although there is the emergence and creation of so many coins in the cryptospace but there was limited exchanges for people to trade their currencies. For me in particular although since so many exchanges were launched it has increased scamming activities but I think the exchanges are good . In no time it will be more that we won't even know which one to trade our coin.

[Genemind]

Crypto exchanges are necessary but having too much isn't needed. There are just new existing and new exchanges being launched for their own purposes. They're competing for a higher rate which they make as a business. Exchanges wouldn't exist if they aren't earning through it. Instead of being confused, we must be wise upon choosing an exchange.

[Astvile]

Actually we dont really need more exchange dude,but making an exchange is an business which can earn you tons of money so company are building exchange in order to earn money from it.Business is everything man

[muratsink]

1. Exchange is created to benefit from every transaction and from every coin registration activity.
2. exchange is used to compare each coin price. 
3. for long and short trades. 
but, an exchange that does not innovate will lose and die.  for the new exchange, I recommend you to choose BCNEX.  You can see the progress of BCNEX on his website.

[iqlimasyadiqa]

In addition to the exchanges listed on the CMC, there are many other exchanges.I have a question WHY do we need so many exchanges?What do You think the new exchange will be able to attract potential users?

Each exchange has different characteristics and even the difference is usually whether the exchange can withdraw to a local account in a country. each country usually has its own exchange service. each exchange will compete to provide the best service, each exchange has a different feature and it is usually also that costs will be things that will attract customers. oh yeah don't forget the security issue, for me an exchange that has good security services is a top priority.

[xvids]

Not all of the alt-coin could be listed on one exchange so for me it is enough reason to have other exchange.
One exchange couldn't provide for everyone and they all have different rules.
And of course it would be real hassle if we only have one exchange and they would go to a maintenance or be hack.

[Nolimitz84]

That's how it works, ultimately the ones who are serious about it will try to offers something better, whether it's regulations, better fees, faster platform, more detailed charts, more trading options, margin trading, etc etc. We do in fact need more cryptocurrency exchanges, hopefully decentralized ones as well.

I think all these features (except margin trading) are available on any exchange.I also give an advantage to decentralized exchanges,but in addition to + they have negative sides.

[Nolimitz84]

Not all of the alt-coin could be listed on one exchange so for me it is enough reason to have other exchange.
One exchange couldn't provide for everyone and they all have different rules.
And of course it would be real hassle if we only have one exchange and they would go to a maintenance or be hack.

No one says that there should be 1 exchange.The question is why do they create them almost every day?

[Ailmand]

Every exchange has a specific function. They have differences but they offer the same service. There are just some exchanges which are not trusted and fails when it comes to services that they offer. I guess these exchanges must be elliminated out of the market.

[kamBlanV]

I see that exchange now prioritizes personal gain.  not to provide benefits to users.  finally.  exchanges only harm the user and the exchange does not last long.  exchange purpose is for making users comfortable.  I think, Beaxy is an exchange that will compete with big exchanges like Binance.  and that can be your choice.

[Nolimitz84]

In addition to the exchanges listed on the CMC, there are many other exchanges.I have a question WHY do we need so many exchanges?What do You think the new exchange will be able to attract potential users?

oh yeah don't forget the security issue, for me an exchange that has good security services is a top priority.

I didn't want to recall the terrible situation that the binance exchange faced not so long ago, but for an answer one would have to remember that even such a secure exchange as binance was also subjected to hacker attacks. Therefore, the expression “safe exchange, remains in the past.

[minersday]

In addition to the exchanges listed on the CMC, there are many other exchanges.I have a question WHY do we need so many exchanges?What do You think the new exchange will be able to attract potential users?

The crypto ecosystem is currently a good space for investors and developers to make or earn a good amount of profits from any thing they can introduced into this ecosystem to either promote this space or bridge some gaps seen in this space.  Currently in the crypto space, exchange platforms act as the banks for cryptocurrencies which allows crypto users to easily change their crypto coins for other coins. Since developers realized that exchange platforms serve as the direct medium between sellers and buys, other developers started build such platforms as a means of obtaining some amount of profits from the fees charged on their platform.

[Nolimitz84]

I see that exchange now prioritizes personal gain.  not to provide benefits to users.  finally.  exchanges only harm the user and the exchange does not last long.  exchange purpose is for making users comfortable.  I think, Beaxy is an exchange that will compete with big exchanges like Binance.  and that can be your choice.

Since You advertise this exchange,tell us how it differs from all the others?

[DoublerHunter]

Just like selling goods, why there are too many stores now. Here is what I have understood why there are too many crypto exchanges emerging it is almost every month. Because that is the good business though to have an exchange. I think it would you be nice if we have a lot of cryptos exchange out there to have a high-quality competitive service to everyone which gives good service among them all. We have different choices and we can compare them to each other which one is reliable service.

[Cuk0ng_bitc0in]

actually we don't need a lot of exchange.  important points of exchange are security and exchange services must be maximal.
 then. exchanges must to maintain quality and always create innovation.  I see that Binance has a very perfect character.  new exchanges are difficult to predict.  I'm worried like LCCX exchanges.  very bad and doesn't have good progress.  so I don't recommend new exchanges.

[Ranly123]

In addition to the exchanges listed on the CMC, there are many other exchanges.I have a question WHY do we need so many exchanges?What do You think the new exchange will be able to attract potential users?

The reason for this I think is the diversity of investors to choose in which exchange they are comfortable of trading. The existence of many exchanges do favor investors and will create competitions in the market.